Hungary GDP Q1 2017

Hungary: Economy expands robustly in Q1

May 16, 2017

The Hungarian economy started the year on a strong footing. According to preliminary data released by the Central Statistics Office (KSH) on 16 May, the economy expanded 4.1% annually in Q1, buoyed by a healthy performance in industry and the services sector. The reading was well above the previous quarter’s 1.6% increase and vastly exceeded market analysts' expectations of a softer 3.4% rise.

On a quarter-on-quarter basis, GDP growth jumped from a 0.7% expansion in the fourth quarter to a 1.3% increase in the first quarter. More detailed data will be released on 7 June.

FocusEconomics Consensus Forecast panelists expect a 3.2% expansion in 2017, which is up 0.1 percentage points from last month’s projection. For 2018, the panel expects growth to expand 3.1%.

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